Gold prices have reached a record high of $3,425.30 per ounce as President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell fuels investor anxiety and drives up demand for the precious metal.
Trump’s latest barbs against Powell have increased pressure on the central bank to lower interest rates, leading investors to buy gold in anticipation of economic instability. The dollar has also fallen to a three-year low, adding to the sentiment.
Since Trump introduced tariffs on April 2, gold prices have jumped by around 30% at the start of the year and 8%. Analysts predict that demand for gold will continue to outstrip supply from mining, with Citi forecasting prices to reach $3,500 over the next three months.
Source: https://www.cnbc.com/2025/04/21/gold-surges-to-a-record-above-3400-as-trump-threatens-fed-independence.html